Los Angeles County Employees’ Retirement Association, Pasadena, Calif., committed up to $100 million to venture capital fund GGV Capital V, wrote David Kushner, chief investment officer, in an e-mail.
The $45 billion pension fund previously committed up to $50 million to GGV Capital IV in May 2012.
Separately, the pension fund terminated Post Advisory Group from a $348 million high-yield fixed-income portfolio due to personnel changes. The pension fund plans to distribute the assets among existing fixed-income managers; specific details have yet to be determined.
Investment consultant Wilshire Associates assisted with the termination.
